NEW YORK—Last year was a blockbuster year for virtual currency investments, a new report reveals.
“Crypto adoption reached a true tipping point last year, becoming an established economic driver and a valued investment across the globe,” stated Noah Perlman, COO at crypto platform Gemini, which conducted the study.
Of 30,000 people surveyed in 20 countries, Gemini found that inflation was a major driving factor for crypto adoption. Especially in Brazil, Mexico, and India, where the local currency saw devaluation against the U.S. dollar, FX Empire stated in its analysis.
“For instance, the Brazilian Real was the most depreciated major currency in 2020, falling nearly 30% of its value. Indonesian Rupiah devalued 50% against the dollar between 2011 and 2020,” FX Empire said.
Where Women Invest More
The survey found that these countries have led the world in crypto adoption, with more women investing in cryptos such as bitcoin and ethereum.
According to the findings, nearly half of the respondents who said they were “crypto-curious” were women. In developing countries, including Israel (51%), Indonesia (51%), and Nigeria, women led the way by representing more than 50% of crypto owners.
On the other hand, only a third of current crypto owners are women in developed nations, including the U.S. (32%), Australia (27%), and Europe (33%).
Latin America Leads
“Latin America is a leader in crypto ownership among women compared to other regions, with 43% of crypto owners in the region identifying as women. The trend of high ownership among women in Latin America is expected to continue with the crypto-curious audience,” the study noted.
Additionally, more women responders said they are “crypto-curious,” that is, those who do not hold any cryptos but are curious to acquire in the next year. The survey added that people in Ireland are the most crypto-curious globally, followed by Germany, Colombia, and the U.K.
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